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Interesting thoughts. From what I have seen the PR doesn't change automatically, but I'm not sure if there are exceptions.
I have a feeling that on this issue google doesn't have a standard strategy. Meaning, there are cases that silently "ban" your domain (by making it not to appear anywhere) while you retain the PR and your site still remains indexed (but in reality gets no traffic). The logic behind this is that a SE spammer will instantly abandon a confirmed banned domain. That's just my theory though.
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